King of Prussia Opens 155,000-square-foot Expansion

KING OF PRUSSIA, Pa., Aug. 18, 2016 /PRNewswire/ -- Simon, a global leader in retail real estate, celebrated the completion of a 155,000-square-foot expansion at King of Prussia today. The project, which broke ground in summer 2014, will add 50 new retail and dining storefronts and increase the mall's footprint to 2.9 million-square-feet, further elevating Pennsylvania's top retail attraction and the second-largest shopping center in the United States.

The noteworthy project involved an enclosed multi-level expansion connecting the five-anchor, 1,680,000-square-foot Plaza, and the two-anchor, 902,000-square-foot Court. The two retail areas have been separated by a roadway since their initial construction.

To commemorate the opening, King of Prussia hosted a ribbon joining ceremony, symbolic of the now unified shopping center. The event included remarks from Simon's President and Chief Operating Officer, Rick Sokolov, as well as U.S. Representative Brendan Boyle of Pennsylvania's 13^th District.

"Today is a milestone day for Simon," said Rick Sokolov, President and COO of Simon. "King of Prussia has reached new heights with the completion of its 155,000-square-foot expansion. Customers now have greater access to the best names in retail and dining in one, seamless shopping environment."

An Unparalleled Shopping Experience
The expansion is home to an exciting collection of luxury retailers, upscale dining options and first-to-market brands. Those stores opening today include Altar'd State, Calligaris, Cartier, CH Carolina Herrera, Club Monaco, David Yurman, Diane von Furstenberg, Gap, Jimmy Choo, MCM, Robert Graham, Stuart Weitzman, Superdry, Vince, Hai Street Kitchen, Nicoletta and Shake Shack. Even more great brands will continue to open throughout the fourth quarter and into early 2017 including American Girl, Bottega Veneta, Clarins, Gucci, Mitchell Gold + Bob Williams, Oliver Peoples, sweetgreen, Teavana, The Taco Truck and The Fat Ham.

Several existing King of Prussia luxury brands including Burberry, Hermes, Louis Vuitton and Tiffany & Co., relocated and expanded their current footprints to create flagship locations within the new expansion area.

The expansion space also offers shoppers enhanced amenities including a branded dining experience, Savor King of Prussia, with popular regional eateries and national favorites; a concierge-level guest service center; and a new, state-of-the-art parking garage with speed ramps, space location technology, and valet service that directly connects to the expansion, providing close and convenient access to the new shops and restaurants.

Investing in the customer experience is Simon's top priority. At June 30, 2016, redevelopment and expansion projects, including the addition of new anchors, were underway at 33 properties in the U.S. and Europe. Simon's share of the costs of all new development and redevelopment projects under construction was approximately $2.1 billion.

About King of Prussia 
Featuring a diverse mix of over 400 stores, including Nordstrom, Neiman Marcus, Bloomingdale's, Lord & Taylor, and a collection of luxury retailers unsurpassed in the region, King of Prussia Mall is one of the most iconic malls in the nation. Located about 25 miles northwest of Philadelphia, King of Prussia serves the Greater Philadelphia region including Montgomery, Chester and Delaware counties and is the premier shopping destination on the East Coast. At the junction of Routes 202, 76, 422 and the Pennsylvania Turnpike, King of Prussia is easily accessible for travelers. For more information about King of Prussia Mall, visit www.simon.com/mall/king-of-prussia. Follow the mall on Facebook facebook.com/KingofPrussiaMall and Twitter: @KoP_Mall.   

About Simon
Simon is a global leader in retail real estate ownership, management and development and an S&P100 company (Simon Property Group, NYSE: SPG). Our industry-leading retail properties and investments across North America, Europe and Asia provide shopping experiences for millions of consumers every day and generate billions in annual retail sales. For more information, visit simon.com.

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SOURCE Simon

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